Pennsylvania § 7753 Trustee's duties; powers of withdrawal - UTC 603

Pennsylvania Statutes

§ 7753 — Trustee's duties; powers of withdrawal - UTC 603

Pennsylvania·Title 20 DECEDENTS, ESTATES AND FIDUCIARIES·Ch. 77 TRUSTS·Subch. REVOCABLE TRUSTS

(a)Power of settlor.--Regardless of the legal capacity of the settlor, the rights of the beneficiaries are subject to the control of, and the duties of the trustee are owed exclusively to, the settlor to the extent a trust is revocable.

(b)Holder of power of withdrawal.--The holder of a power of withdrawal has the rights of a settlor of a revocable trust under this section to the extent of the property subject to the power during the period the power may be exercised.

(c)Direction contrary to trust terms.--While a trust is revocable, the trustee may follow a written direction of the settlor that is contrary to the terms of the trust. To the extent a trust is revocable by a settlor in conjunction with other persons, the trustee may follow a written direction from the settlor and those

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(a) Power of settlor.--Regardless of the legal capacity of the settlor, the rights of the beneficiaries are subject to the control of, and the duties of the trustee are owed exclusively to, the settlor to the extent a trust is revocable.

(b) Holder of power of withdrawal.--The holder of a power of withdrawal has the rights of a settlor of a revocable trust under this section to the extent of the property subject to the power during the period the power may be exercised.

(c) Direction contrary to trust terms.--While a trust is revocable, the trustee may follow a written direction of the settlor that is contrary to the terms of the trust. To the extent a trust is revocable by a settlor in conjunction with other persons, the trustee may follow a written direction from the settlor and those persons that is contrary to the terms of the trust.

Pennsylvania § 7753 (Trustee's duties; powers of withdrawal - UTC 603) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

(July 15, 2024, P.L.786, No.64, eff. 90 days) 2024 Amendment.Act 64 amended subsec. (a) and added subsec. (c). See section 11 of Act 64 in the appendix to this title for special provisions relating to Uniform Trust Code.